Archive for June, 2010

800,000 mortgages in California are 30+ days late or in foreclosure. Only 132,000 show up in the MLS. Why there will be no housing bottom for California until at least 2012.

5 housing and financial stories showing profound weakness in the economy: new home sales break past record low dating back to 1963, prisoners using home buyer tax credit, SoCal inventory spiking, U.S. dollar multi-decade slide, and Fannie Mae cracking down on strategic default.

Real Homes of Genius: Culver City home for sale at $925,000 or available for rent at $3,795. The distorted Los Angeles housing metrics point to further price adjustments.

Three reasons why you should be happy about renting in California: Glut of rental housing, mobility, and hedge against future price drops.

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